Fifth Third Bancorp Lowers Holdings in Ingersoll Rand Inc. (NYSE:IR)

Fifth Third Bancorp reduced its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 15,042 shares of the industrial products company’s stock after selling 111 shares during the period. Fifth Third Bancorp’s holdings in Ingersoll Rand were worth $1,361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IR. Virtu Financial LLC purchased a new stake in shares of Ingersoll Rand in the 3rd quarter valued at about $864,000. Nordea Investment Management AB raised its stake in Ingersoll Rand by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 1,691,399 shares of the industrial products company’s stock valued at $153,867,000 after purchasing an additional 271,381 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Ingersoll Rand by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 90,827 shares of the industrial products company’s stock valued at $8,916,000 after purchasing an additional 7,784 shares during the last quarter. GDS Wealth Management grew its stake in Ingersoll Rand by 6.4% in the 3rd quarter. GDS Wealth Management now owns 167,248 shares of the industrial products company’s stock worth $16,417,000 after buying an additional 10,081 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Ingersoll Rand by 28.2% in the 3rd quarter. Intech Investment Management LLC now owns 101,745 shares of the industrial products company’s stock worth $9,987,000 after buying an additional 22,401 shares during the last quarter. Institutional investors own 95.27% of the company’s stock.

Ingersoll Rand Trading Down 1.1 %

Shares of IR opened at $90.88 on Wednesday. The firm has a fifty day simple moving average of $96.13 and a two-hundred day simple moving average of $95.78. Ingersoll Rand Inc. has a twelve month low of $79.04 and a twelve month high of $106.03. The stock has a market capitalization of $36.63 billion, a P/E ratio of 44.33, a PEG ratio of 3.73 and a beta of 1.44. The company has a quick ratio of 1.71, a current ratio of 2.36 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 2,531 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now owns 11,910 shares of the company’s stock, valued at $1,160,510.40. This trade represents a 17.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IR shares. Citigroup dropped their price objective on shares of Ingersoll Rand from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 13th. Cfra lifted their price target on Ingersoll Rand from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Stifel Nicolaus reduced their price objective on Ingersoll Rand from $107.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on Ingersoll Rand from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays reduced their price target on shares of Ingersoll Rand from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.92.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.